NEM (CRYPTO:XEM) Price Down 3% This Week

NEM (CURRENCY:XEM) traded 7.7% lower against the dollar during the 1 day period ending at 19:00 PM E.T. on February 4th. One NEM coin can now be purchased for about $0.53 or 0.00006565 BTC on exchanges including Bittrex, Qryptos, Exrates and COSS. Over the last week, NEM has traded down 3% against the dollar. NEM has a total market cap of $4.79 billion and approximately $28.55 million worth of NEM was traded on exchanges in the last 24 hours.

NEM Coin Profile

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NEM (CURRENCY:XEM) is a proof-of-importance (PoI) coin that uses the ProofofImportance hashing algorithm. It launched on March 31st, 2015. NEM’s total supply is 8,999,999,999 coins. The official website for NEM is nem.io. NEM’s official Twitter account is @NEMofficial and its Facebook page is accessible here. The official message board for NEM is forum.nem.io. The Reddit community for NEM is /r/nem and the currency’s Github account can be viewed here.

According to CryptoCompare, “NEM is a peer-to-peer crypto platform. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014. NEM finally launched on May 31, 2015.”

NEM Coin Trading

NEM can be traded on these cryptocurrency exchanges: Cryptopia, OKEx, Bittrex, Qryptos, Cryptomate, Exrates, HitBTC, YoBit, Abucoins, Livecoin, Poloniex, COSS, AEX, LiteBit.eu, Upbit, Bitcoin Indonesia and Zaif. It is not possible to buy NEM directly using US dollars. Investors seeking to acquire NEM must first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy NEM using one of the exchanges listed above.